Have been monitoring Halliburton recently, as the crude oil futures are in the up trend. Commodity up swing is likely still intact. It is now moving in tandem with S&P, at least direction wise.
Last Friday (4 June), the price tries to break out from the range. Notice the resistance in early March at $24.70 level. The big spread bar on 2 June with higher than usual volume seems to suggest commitment to the up side. Therefore, if subsequently price able to stay above $24.70, likely to reach target at $32.
Nearest support will place around $22.
Last Friday (4 June), the price tries to break out from the range. Notice the resistance in early March at $24.70 level. The big spread bar on 2 June with higher than usual volume seems to suggest commitment to the up side. Therefore, if subsequently price able to stay above $24.70, likely to reach target at $32.
Nearest support will place around $22.